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Visakhapatnam April 28 The first structural steel column erection of the seamless tube mill of the steel plant was inaugurated here on Saturday by Mr Y. Sivasagara Rao, Chairman and Managing Director, Visakhapatnam Steel Plant.

Mr Sivasagara Rao, retiring by the month-end, said it was a matter of great satisfaction to him that during his tenure the Union Government had sanctioned the expansion of the plant capacity from 3.2 million tonnes to 6.2 mt at an investment of Rs 8,600 crore.

Board approved

"The board has also approved the further expansion of the plant capacity to 8 mt and the corporate plan envisages increasing the capacity to 16 mt by 2020 at a total investment of Rs 25,000 crore, including the Rs 8,600 crore for the present phase of expansion," he said.

He said till now contracts for expansion works worth Rs 4,000 crore had been finalised and his successors would do the remaining job. Mr P.K Bishnoi, Director (Finance), would succeed him as the Chairman and Managing Director.

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